David Drumm, the former CEO of Anglo Irish Bank, has been found guilty by a Dublin court of false accounting and conspiring to defraud in connection with the bank's near-collapse in 2008, the Irish Independent reported.
Drumm had been charged with conspiring to defraud by dishonestly creating the impression that the bank's customer deposits were €7.2 billion more than they really were as the global financial crisis began to expand in September 2008, according to the June 6 report. He had pleaded not guilty to the charges in February.
Drumm has not yet been sentenced.
The case, which occupied 87 days of the court's time before it arrived at a verdict, revolves around a series of interbank deposits between the lender and Irish Life and Permanent, the newspaper noted.
Anglo Irish Bank was nationalized in 2009 and was folded into Irish Bank Resolution Corp. Ltd. in 2011 along with Irish Nationwide Building Society. IBRC was then placed into liquidation in February 2013.
